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Bechtel acquires remainder of InterGen

Issue 2 and Volume 101.

Bechtel acquires remainder of InterGen

PG&E Enterprises and Bechtel Enterprises Inc. have announced an agreement for Bechtel to acquire PG&E`s interest in International Generating Co. (InterGen). InterGen was formed in early 1995 by the two organizations to develop, finance, own and operate electric power plants outside the United States and Canada. InterGen has three projects totaling more than 2,100 MW under construction, three projects totaling nearly 1,400 MW under contract and in the final stages of financial closing and five projects totaling nearly 3,900 MW awarded and in contract negotiations.

PG&E Enterprises and Bechtel Enterprises will continue to own and manage U.S. Generating Co. (USGen), a supplier of electric power in the United States since 1989. USGen owns and manages 17 electric power plants, accounting for nearly 3,400 MW of capacity.